[Homestead] Bailing out the auto industry

bob ford bobford79 at yahoo.com
Tue Nov 11 10:32:55 EST 2008


Good evealuation Don; though with Bush appearing happy to acquesice to anything the dems desire, I wouldn't call this congress 'lame duck'.  Bush has so little domestic power , he is allowing BO to take control ahead of Jan.

  Congress if full with power and demonstrating it with the many public promises and proclamations.  Auto Indisustry should go bankrupt and rebuild with a tighter ship making the autos that americans want.  If they make the right kind of cars and trucks, at prices that compete with the Japanes, they will become successful again, more so than ever, maybe.  Bankruptcy must come first ......................bobford


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--- On Tue, 11/11/08, Don Bowen <don.bowen at earthlink.net> wrote:

> From: Don Bowen <don.bowen at earthlink.net>
> Subject: [Homestead] Bailing out the auto industry
> To: homestead at lists.ibiblio.org
> Date: Tuesday, November 11, 2008, 8:18 AM
> Hanky Panky so far seems to be dumping as much money as
> possible on his
> friends in the financial industry.  He has burned through
> almost all the
> first installment on the $700B bailout.  He will be
> returning to the Lame
> Duck congress with hat in hand asking for more.  His intent
> is to use up as
> much as possible between now and Jan 20.
> 
> As for the auto industry, they are "old industry"
> according to the financial
> mindset of Paulson and Bernenke and should be allowed to
> fail.  To them we
> do not need industrial, all we need is financial.
> 
> I tend to agree that we should let the auto industry fall
> on its own though
> for very different reasons.  We need industry but more
> diversified and with
> more players.  It would not hurt for the auto companies to
> have to
> significantly raise prices and force the consumer into
> buying fewer cars and
> making sure the ones we have last much longer.  High prices
> would force down
> the sizes of cars which will be needed in the face of
> declining oil
> supplies.
> 
> Don Bowen  KI6DIU
> http://www.braingarage.com/Dons/Travels/journal/Journal.html
> 
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